Siluanov announced measures to reduce the economy’s dependence on the dollar

© RIA Novosti / Natalia to Seliverstova in photobacteria of the Ministry of Finance of Russia. Archival photoSiluanov announced measures to reduce the economy’s dependence on the dollar© RIA Novosti / Natalia to Seliverstova the image Bank

The Ministry of Finance allows for the adoption of policy decisions for the transfer of state-owned companies to rubles, said first Vice Premier, Finance Minister Anton Siluanov.

«We’ll be there in decisions of policy-making, on the one hand, since the state is a shareholder in some sort of state companies, on the other hand, using incentives to influence to more and more of the calculations was in non-dollar segment,» he said in an interview with TV channel «Russia 24».

He noted that from 2019 will earn incentives for transition to settlements in rubles for export contracts. According to Siluanov, Russia’s partners will be provided tax incentives.

In addition, Moscow is interested to move to settlements in rubles and in the currencies of the trading partners, the dollar has already signed contracts, said the first Vice Premier.

According to him, the European partners are already thinking about abandoning the dollar in the calculations with Russia.

«I think it will be output and the response to the restrictions imposed by the United States of America in relation to enterprises and financial institutions, which are calculated in U.S. currency», — added Siluanov.

The Minister stressed that measures to promote payments in national currencies will not affect accounts.

«No one is going to exclude the circulation of the dollar, nobody is going to force you to change dollar savings in ruble or whatever. This policy has been, and will continue. But in foreign trade payments, of course, we will be interested to use their own currency,» he added.

On Wednesday, the government announced the work to reduce the economy’s dependence on the dollar, including through incentive payments in national currencies. On Thursday, Siluanov said that the plan for dedollarization of the Russian economy has already been prepared and submitted to the government.

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